BRICS is consolidating control over key global trade routes and resource markets. BRICS now spans critical logistical corridors across Eurasia, Africa and Latin America. The bloc also commands a significant share of the world’s reserves in energy, rare earth elements and agricultural commodities.
More than 30 countries have applied for membership or partnership status. It is leading a transition to national currencies and developing independent payment and settlement mechanisms. Lastly, BRICS is beginning to serve as a functional alternative to gridlocked institutions like the United Nations and the World Trade Organization.
Read more in RT
